Description Overview Tuberculosis was popularly known as consumption for a long time. Scientists know it as an infection caused by M. tuberculosis. In 1882, the microbiologist Robert Koch discovered the tubercle bacillus, at a time when one of every seven deaths in Europe was caused by TB.
consumption, in economics, the use of goods and services by households. Consumption is distinct from consumption expenditure, which is the purchase of goods and services for use by households.
According to mainstream economists, only the final purchase of goods and services by individuals constitutes consumption, while other types of expenditure — in particular, fixed investment, intermediate consumption, and government spending — are placed in separate categories (See consumer choice).
Q: What is the difference between consumption and production? A: Consumption refers to the use of goods and services, while production is the process of creating those goods and services.
Consumption, in the context of economics, refers to the use of goods and services by individuals, households, or entities to satisfy their wants, needs, and desires.
